B. Riley Wealth Advisors Inc. Purchases 34,942 Shares of Ares Capital Co. (NASDAQ:ARCC)

B. Riley Wealth Advisors Inc. increased its position in shares of Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 30.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,597 shares of the investment management company’s stock after purchasing an additional 34,942 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Ares Capital were worth $2,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ARCC. CCLA Investment Management bought a new stake in shares of Ares Capital during the third quarter valued at approximately $33,164,000. Progeny 3 Inc. bought a new stake in shares of Ares Capital during the third quarter valued at approximately $21,479,000. Two Sigma Investments LP increased its position in shares of Ares Capital by 122.7% during the third quarter. Two Sigma Investments LP now owns 1,845,265 shares of the investment management company’s stock valued at $31,148,000 after purchasing an additional 1,016,632 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Ares Capital by 160.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,117,111 shares of the investment management company’s stock valued at $23,403,000 after purchasing an additional 687,496 shares during the period. Finally, Ares Management LLC increased its position in shares of Ares Capital by 35.7% during the first quarter. Ares Management LLC now owns 2,361,573 shares of the investment management company’s stock valued at $49,475,000 after purchasing an additional 621,814 shares during the period. 32.24% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $17.43 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $9.26 billion, a P/E ratio of 14.53 and a beta of 1.01. The business’s fifty day moving average is $19.20 and its two-hundred day moving average is $18.93. Ares Capital Co. has a 52 week low of $16.53 and a 52 week high of $22.65.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 11.02%. The ex-dividend date of this dividend is Tuesday, March 14th. Ares Capital’s dividend payout ratio is currently 160.00%.

Analyst Ratings Changes

ARCC has been the topic of several recent analyst reports. Citigroup boosted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $23.00 price target on shares of Ares Capital in a research note on Monday, March 13th. StockNews.com initiated coverage on Ares Capital in a research note on Thursday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on Ares Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a research note on Wednesday, February 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.71.

About Ares Capital

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Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.